inditex

Spanish economy 13th December 2023

Inditex profits up 32%, earnings for first 9 months of 2023 reach €4,102 million

Inditex (ITX) today reported its results for the first nine months of the fiscal year (9M2023), covering the period from February to October: Net sales rose 11.1% year-on-year (+14.9% at constant exchange rates) in 9M2023 to €25,609 million. ITX highlighted the satisfactory evolution of its online shop revenue, which was positive in all geographies and in all formats. Gross margin rebounded at a faster pace than sales, 12.3% year-on-year to…

In Europe 28th October 2023

Inditex announces launch of Zara Pre-Owned in Spain and other EU countries by 31 January 2024

Link Securities| Óscar García Maceiras, CEO of Inditex (ITX), during his speech at the 38th Aecoc FMCG Congress, announced the launch of Zara Pre-Owned, the platform that allows the repair, recycling and second-hand sale of its products in the United Kingdom in 2022, which has already arrived in France and will land in Spain and other EU countries before the end of its fiscal year (which ends on 31 January),…

In Spain 13th September 2023

Inditex’s net income rises 40% to €2,513 M in first half of fiscal year, sales up 13.5%

Inditex’s (ITX) net income rose 40% in the first half of the fiscal year (from 1 February 2023 to 31 July 2023), to €2,513 million. Sales grew by 13.5% to €16,851 million, with a “very satisfactory” evolution both in shops and online, the company said. It also stressed that the evolution has been positive in all geographical areas and in all formats. Sales at constant exchange rates grew by 16.6%….

In Europe 11th September 2023

ECJ upholds Inditex in suit against Buongiorno Myalert for infringement of trademark rights

Alphavalue / Divacons| The Advocate General of the Court of Justice of the European Union, Maciej Szpunar, concluded on Thursday, in reference to the legal dispute of Inditex against Buongiorno Myalert, that the Italian company “cannot take advantage of the limitation of the rights of the trademark owner”, thus agreeing with the Galician group in its litigation against the firm. It should be recalled that in 2010, when Buongiorno Myalert…

In Spain 1st September 2023

Inditex reopens flagship Zara Home in Madrid to focus on selling furniture to affluent customers

Alphavalue / Divacons | The Galician textile company is boosting its furniture sales with the reopening of its flagship Zara Home store in Madrid. It does not aim to compete with the large multinationals in this sector, which offer cheaper products, but rather to target a public with more purchasing power. The shop, located in Madrid’s Salamanca neighbourhood, has a space of more than 670 square metres distributed over two…

Spanish economy 12th June 2023

Inditex to propose long-term cash and share incentive plan targeting up to 750 executives

Alphavalue / Divacons | As was seen on Friday in the domestic press, the shareholders’ meeting of the Galician textile company on July 11th is expected to approve a long-term incentive plan in cash and shares for members of the management team, including executive directors, and other employees of the group who are invited to participate in the plan, up to a maximum of 750 beneficiaries. Specifically, the plan consists…

Spanish economy 7th June 2023

Inditex quarterly profit up 54% to record €1.168 billion

Inditex’s (ITX) net profit rose 54% in its first fiscal quarter (1 February 2023 to 30 April 2023), to €1.168 billion. Sales grew by 13% in the first fiscal quarter, to €7,611 million, with a performance that has been described as “very satisfactory” both in shops and online. They also stressed that sales were positive in all geographic areas and in all formats. Sales at constant exchange rates were up…

Companies, Spanish economy 30th March 2023

Marta Ortega sketches line of continuity in management based on improved shopping experience and operating model efficiency

Link Securities | In an interview with the Financial Times, reported by Expansión, Inditex (ITX) Chairman and CEO Marta Ortega outlined a continuity in management based on improving the shopping experience and the efficiency of the group’s operating model, while maintaining the focus on sustainability. Ortega said that the product is the lifeblood of the group and where she can offer the most value, while she is on top of…

Spanish economy 15th March 2023

Inditex earnings up 27% to €4,130mm, dividend raised 29% to €1.20/share

ITX sales reached €32,569 million in 2022, up 17.5% year-on-year (+18.0% at constant rates; +0.1% FactSet consensus), with growth in all geographic areas where ITX operates, and in both physical and online shops. In-store sales increased 23% year-on-year, due to higher commercial traffic, while online sales rose 4% year-on-year, reaching a record €7,806 million, 23.97% of the total. Broken down by geographic area, 47.5% of sales came from Europe (excluding…

Relevant News Item, Spanish economy 10th February 2023

Inditex sets minimum wage of €18,000 for its 6,477 shop staff in Spain

Inditex has reached an agreement with the trade unions setting a fixed minimum wage from €18,000 for all employees in the shops of the group’s different brands throughout Spain, an amount to which will be added other variable payments such as those linked to seniority, commissions or night work, among others. It also approves aid for children and adoption, salary increases on Sundays and public holidays, higher commissions and bonuses….

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